17:40 - 6.12.2024

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December 6, Fineko/abc.az. Tariffs for insurance of farm animals have been reduced, ABC.AZ reports, referring to the Board of Directors of the Agricultural Insurance Fund.

Until now, insurance rates for cattle insurance have ranged from 5.2% to 8.2% of the cost of the animal, depending on the selected insurance package.

By the decision of the Board of Directors, insurance premiums for cattle were reduced by 5%, and for small cattle - by 10%. As a result, tariffs were cut to 4.9-7.8% for cattle and 4.65-7.37% for small cattle.

As a result, if until now the annual insurance premium of 1,000 manats for small cattle (cow or buffalo) cost the farmer 26-41 manats, depending on the selected insurance package, now this figure has decreased to 25-39 manats.

As a result of the changes, the insurance fee for cows worth 3,000 manats was reduced from 77-123 manats after the innovation to 73-117 manats, and farmers will pay 122-195 manats for animal insurance worth 5,000 manats instead of the previous 129-205 manats.